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An examination of Okun's law: evidence from regional areas in Greece

Year: 2003

Type: article

Abstract: This paper estimates Okun's coefficient for certain regional areas in Greece over the period 1960–1997. Through the Hodrick-Prescott filtering and the band-pass filtering the empirical analysis shows that that the coefficients do not exhibit substantial interregional differences, except for the cases of Epirus and North Aegean Islands. In these two cases, the estimates are larger than the regional average under both detrending methodologies. The empirical findings also show that Okun's relationship undergoes a structural change in 1981. After this break, unemployment becomes less responsive to output changes in all regional areas.

Source: Applied Economics

DOI: 10.1080/0003684032000066787

Authors: Nicholas Apergis, Anthony Rezitis

Institutions: University of Piraeus, University of Macedonia, University of Derby, Agricultural University of Athens, University of Ioannina

Language: English

Topic: Unemployment and Economic Growth

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: green

OpenAlex ID: W2170671517

FWCI: 1.617

Cites: 12

Cited by: 94

Related to: 10